Level One Bancorp Inc. and Ann Arbor Bancorp Inc., the privately-owned parent company of Ann Arbor State Bank, have completed their previously announced merger transaction.

The size of the combined company is approximately $1.8 billion in assets, $1.4 billion in loans and $1.5 billion in deposits, based on information as of Sept 30, 2019. The merger expands Level One Bank’s network to 15 banking centers throughout the Ann Arbor, Metro Detroit and Grand Rapids areas.

“We look forward to welcoming Ann Arbor State Bank clients and team members to Level One,” Level One Bank President and CEO Patrick J. Fehring said in a statement. “Once we complete our planned system conversion on March 23, clients will have access to a larger network of banking centers, a wider range of products and services, and the same commitment to personal service and community values they are accustomed to from Ann Arbor State Bank.”

In conjunction with this transaction, Jacob W. Haas has been elected to the board of directors at Level One.Performance Trust Capital Partners, LLC served as financial adviser and Barack Ferrazzano Kirschbaum & Nagelberg LLP provided legal counsel to Level One. Sandler O’Neill + Partners, L.P. served as financial adviser and Varnum LLP served as legal counsel to AAB.

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